We can see the price has gone from making Higher Highs to Lower Highs and is now making Lower Lows as well, indicating that the upwards momentum is coming to an end. If price respects the and bounces down, providing our 4H candle closes below the lower horizontal green line it should be a safe place to Short from. However, if the price reaches the upper resistance and is rejected, then we can enter from the higher green horizontal line providing a 4H candle closes below it.
We have some support/resistances to battle through along the way and our first TP will be around 122.1
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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